Palantir Technologies and power generation firm Vistra, two of the newer S&P 500 members, where the index's top performers in 2024.
Nvidia, the best S&P 500 stock in 2023, led for much of this year. Even with the AI chip leader essentially going sideways since late June, it was still the S&P 500's third-best stock.
United Airlines and GE Vernova follow.
Axon Enterprise, Texas Pacific Land, Broadcom, Targa Resources and Howmet Aerospace round out out the top 10, all of which have triple-digit gains.
Like Palantir and Vistra, GE Vernova stock and Texas Pacific Land are recent S&P 500 entries. Palantir, Nvidia and Broadcom are obvious AI plays, with Vistra and GE Vernova AI adjacent.
Nvidia and Axon stock are on IBD Leaderboard. Palantir stock, Axon and Broadcom are on the IBD 50.
S&P 500 Stocks: Top 2024 Performers
| Company | Stock | YTD return |
|---|---|---|
| Palantir Technologies | PLTR | 340.5% |
| Vistra | VST | 257.92% |
| Nvidia | NVDA | 171.17% |
| United Airlines | UAL | 135.34% |
| GE Vernova | GEV | 131.61% |
| Axon Enterprise | AXON | 130.06% |
| Texas Pacific Land | TPL | 111% |
| Broadcom | AVGO | 107.70% |
| Targa Resources | TRGP | 105.48% |
| Howmet Aerospace | HWM | 102.09% |
Here's a look at the five top S&P 500 stocks of 2024.
Palantir Stock
The data analytics play has traditionally gotten most of its revenue from the U.S. military and other government agencies, but commercial revenue is booming. Revenue growth has accelerated for five straight quarters, to 30% in Q3. Earnings growth has been strong, at 43% in Q3.
According to a report, Palantir and startup Anduril are talking with many other tech companies, including OpenAI and Elon Musk's SpaceX, to form a consortium to jointly bid on U.S. government contracts.
Palantir has forged a number of partnerships in recent months that focus on defense and government work.
Palantir stock has spiked 340.5% in 2024. That includes a mammoth run from the Aug. 5 low of 21.23. News that PLTR stock would join the S&P 500 fueled a 14% gain on Sept. 9.
Palantir was one of the newest S&P 500 members, joining the index before the open on Sept. 23, along with Dell Computer and Erie Indemnity.
Shares surged 23.5% on Nov. 5 on earnings, then kept running on the Trump stock market rally. Palantir switched from the NYSE to the Nasdaq in November. That raised speculation that PLTR stock would be added to the Nasdaq 100 index, which happened on Dec. 23.
Just since joining the S&P 500, Palantir has more than doubled.
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Vistra Stock
Vistra is a diversified electric utility and power generation firm, with natural gas, nuclear, solar and battery storage facilities. As with many other power generators, Vistra is an AI-adjacent play because AI data centers have enormous power needs.
Earnings have powered higher as electricity prices surge, with GAAP EPS up 326% in Q3. Revenue growth has accelerated from -31% to +21% and +54% in the past few quarters.
Vistra stock soared 2579% in 2024. Shares have pulled back from a record 168.67 on Nov. 22 to just below their 50-day line. A strong rebound from the 50-day line could offer a new entry, while VST stock works on a new consolidation.
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Nvidia Stock
Nvidia is the AI chip giant, with earnings growth in triple digits for six straight quarters. A five-quarter run of triple-digit revenue growth ended in fiscal Q3 2025, when sales spiked 93%.
Wall Street still expects powerful growth through the next fiscal year, with its next-generation AI processor Blackwell leading the charge.
But there are concerns that Nvidia faces mounting competition from in-house custom AI chips from the likes of Broadcom.
Nvidia stock gained 171.2% in 2024. Shares essentially went sideways to slightly lower since the then-record high of 140.76 on June 20. NVDA stock has forged a shallow double-bottom base with a 146.54 buy point, right next to the top of a prior base. But NVDA is below its 21-day and 50-day lines.
United Airlines Stock
United Airlines is a global carrier, with other airline and travel stocks also big winners in recent months. After a huge earnings rebound in 2023, United Air's EPS has been choppy in 2024. But analysts are betting on solid growth in the coming year.
For 2024, United stock was up 135.3%.
UAL stock actually hit a 2024 low of 37.02 as recently as Aug. 5. But since then shares have skyrocketed.
United Airlines is currently consolidating after that massive run, with a recent 10-week line test.
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S&P 500: GE Vernova Stock
GE Vernova is the renewable energy spinoff of the former General Electric, coming public in April. GE Vernova's earnings are volatile quarter to quarter, but are booming in 2024 and set to soar again next year.
Shares soared 131.6% since going fully public on April 2. GEV stock took off in August as it cleared a base.
GE Vernova stock has forged a new flat base with a 357.09 buy point. Shares recently rebounded from their 50-day/10-week lines.
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